TRADE OF THE WEEK

New Zealand Herald, Volume LXXII, Issue 22225, 27 September 1935, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE HEAVY BUSINESS REPORTED FIRM OVERSEAS MARKETS Very heavy business is roported by wholesale merchants in Auckland and this is generally attributed to finality regarding the sales tax position. When traders considered there was a possibility of the tax being eased, there was a tendency to withhold orders, but these have now been released. Overseas markets remain firm, a notable example being tea, which met with a very active demand at Colombo. TURPENTINE There has been a further rise in the price of pine tree turpentine. GELATINE , With the coming of milder woather, there better inquiry for packet gelatine and jellies, WHITE LEAD A further advance of '2ss a ton has been announced in the price of white lead. CANARY SEED There has been a further advance in the market for Argentine canary seed, and Quotations have been withdrawn. DESICCATED COCONUT There is a firmer tendency in the market for desiccated coconut, according to cablegrams received from Colombo. RAW GINGER On account of adverse silver exchange, the c.i.f. price of Chinese raw ginger has been advanced by from 2s to 3s per owt„ according to quality. TINNED PRUNES Very few Australian tinned prunes are now available, and following the withdrawal of 40-50's, advice has been received that 50-GO's have been withdrawn. SPORTS GOODS New season's sports goods have now come to hand, and a keen demand is expected within the next few weeks, especially if fine weather is experienced. JUTE Latest cablegrams from Calcutta advi»e a general firming in jute goods. The jute industry has been very disturbed recently, but apparently prices are firming again. WALNUT MEATS New season's prices have been received by some agents for Manchurian walnut meats, and appear attractive to buyers. The local market is bare, and fair business has been booked. KEROSENE Owing to shipping delays cautied by waterfront labour trouble on the Pacific Coast, supplies of kerosene have been rather short. Further quantities, however, lire expected within the next few days. RICE An advance of His a ton in o.i.f. rates for Siamese rice, wHch is shipped through Hongkong, has just been announced. An Australian report states that harvesting of the crop is over, and it is evident that the exportable surplus will be less than last year. DRIED AND CANNED FRUITS There is -nn improving inquiry for dried fruits and some lines are rather short. Canned fruits, particularly pineapples, also are selling well. An Australian report states that packers havo sold out of both IGoz. and 80oz. canned peaches and apricots. Pears are reported to bo very short. JAVANESE GOODS Cablegrams just received from Samnrang show a firmer tendency for both peanut kernels and kapok. Advices received by one house state that owing to political diuturbances and a further weakening of sterling in terms of the guilder, higher prices are being asked for all exports. Peanut priceß have risen by 5s a ton, while fractional advances have been made in kapok. EASTERN MARKETB Cablegrams received from P«mang earlier in the week indicated an easing in sago and tapioca, but the market later advanced and is now slightly firmer than last week. There is a very much firmer market for pepper, and the price of white has advanced by 5-8 d per lb., while black is }d higher. Pineapples are unchanged. TEA All grades of tea rnet with a very aotive demand at dearer rates at this week's Colombo auction. The catalogue comprised 1,550.0001b., and quality showed a falling ofT. Common and medium sorts advanced id to id, while good grades rose jd to Jd. is quoted at 3s 6}d. 90 days' usance. Next week's auction will comprise 1,450,0001b.

At the Calcutta auction, 2,250,0001b. were offered. Quality was a fair average for the time of the year, and the market advanced Jd for all grades.

FIJI MINING TOTOLA SYNDICATE, LTD. GOVERNMENT GAZETTE NOTICE Tho Fiji Government Gazette has published the following notice regarding Totola Syndicate, Limited, an Australian group;— "There has come to the notice of the Government a statement published in tlm press regarding alleged activities within the colony on the part of a company styled Tptola Syndicate, Limited. The statement is as follows: 'Totola Syndicate, Limited.—The company has closed with an option on a property situated in Viti Levu (Fiji), comprising 500 acres of new auriferous ground. For the purpose of prospecting and developmental work, tho reserve shares will now be issued preferentially in the proportion of two for each three hold by existing shareholders (a report regarding assays follows). "Tho Government considers it expedient to make tho following comments:—(a) Totola Syndicate, Limited, is not registered in tho colony and is. in consequence, unable to hold any licence or lease under the provisions of the Mining Ordinance, 1931. (b) No application has been received from Totola Syndicate, Limited, for a prospecting licence, (c) No concessions of any description have been granted to Totola Syndicate, Limited, by tho Government, (d) Tho Government has no knowledge of tho mining operations referred to." Interviewed in Sydney, Mr. F. F. Munro, chairman of Totola Syndicate. Limited, said a prospecting licence had definitely been granted, out was not in tho company's namo, It was in tho name of three private people, who had granted tho company a free option over a property at Nativi, for two months, with the right of extension for a further four months ori tho payment of £IOO. If the option should bo exercised at the end of oithor two months or six months, tho option agreement provided, ho said, for tho payment to the vendors of £SOO cash and 10 per cent in shares of tho nominal capital of any company formed to work the option, as consideration. Mr. Munro added that developmental work was being carried out under tho direction of Dr. Guy Harris, and two parties of natives, each undoi a European, were working on tho option. Tho newspaper report referred to was published in the Sydney Morninu Herald, which now states that tho report regarding assays referred to mining developments elsewhere, tho introductory line containing the name of another company being omitted. The latter statement evidently was taken by tho Fiji Government to refer to the operations of the Totola Syndicate. Limited, and so gave riso in part to the announcement in the Fiji Government Gazette. WHEAT IN AMERICA CHICAGO, Sept. 25 Wheat: September, 98i cents a bushel; December, 98i cents; May, 984 cents.

The New York price for cash is 1 dollar 33J cents.